President's Message (July 25, 2011)

As the opening of our election nears on August 3, I hope that you have had the opportunity to familiarize yourself with a proposal to improve the U.S. actuarial profession's discipline process. These changes are intended to increase efficiency and create greater consistency among discipline outcomes.

In a follow up to our initial joint letter, the presidents of the participating actuarial organizations have prepared a second joint letter to provide you with additional resources related to the proposal, so that you may be fully informed before voting.

In our united message to the members of the Academy, ASPPA College of Pension Actuaries, Casualty Actuarial Society, Conference of Consulting Actuaries, and Society of Actuaries, we reference two resources: a current working draft of a proposed agreement on joint discipline and an updated set of questions and answers about the proposal. A hypothetical case study that compares the current process to the proposed process, which was sent out in our early memo, remains available for your review. Please review these materials before voting on bylaw amendments.

In closing, I hope that you will agree that this is an important step forward for the U.S. profession and join me in ratifying the proposed changes.